Labor Express For 10-12-08
, Jack Rasmus
, Financial Crisis
, Wall Street
, $700 billon dollar
, economic crisis
, bank bailout
This is the full 10-12-08 episode of the Labor Express Radio program.
On this episode we discuss the economic and financial crisis and the $700 billon dollar bailout package passed by the congress with Dr. Jack Rasmus, professor of Economics at St. Mary’s College in California. Dr. Rasmus has been forecasting a serious financial crisis for sometime in the pages of Z Magazine, In These Times, Against the Current and several other publications. Rasmus argues that the bailout package past by the congress will do next to nothing to alleviate the situation. He also argues that we are entering what he terms an epic recession, the likes of which we have yet to experience in our history. Dr. Rasmus argues our entire economic system is in crisis and that fundamental systematic changes are the only thing that can turn the situation around.
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